found inverted head and shoulder pattern .....it has break up and again consolidating at the previously broken resistance which has become now support....so good luck ....trade wisely..
The dollaramas rear me are always packed with long lines as everyone is feeling the financial pinch caused by inflation. Only problem is a lot of the products are coming from China. Watchlist for now watch for support next week at .236 fib.
With much of the product sold in dollar stores sourced from China, the coronavirus standstill in that country will hurt sales growth.
#bumpandrun , #dragonpattern is forming , I think today we are witnessing the total break down of the major downtrend , should the 50-200Ma crossing hold , Im thinking a short term rally is just starting and after a pull back to the cluster around the blue trend line and the pitch fork that was just broken out of ... with targets of 85$ within reach in first half...
the two indicators show a bullishly diverging macd and RSI . Moreover, because it's currently resting on the support there is a good chance it may breakout soon. If not it may form a falling wedge and breakout at a later date. In my opinion there is not enough downward pressure to break bellow the support but we shall wait and see. This is worth a close look for...
Dollarama is the only 'dollar store' in Canada and has actually posted some pretty good numbers and growth over the last decade and is setting themselves up for continued growth in years to come - especially as the global economy remains uncertain. While their operational costs increased based on opening more stores - overall investors exaggerated this "increase"...
Strong selling pressure this week could push price below the key level $34.66. This, combined with bear predictions for next week could drive it down to the lowest support level of $31. Watch price Friday into next week for further downward momentum OR strong rejection at the 34.60 level combined with a volume push. No Position.
Hard to sell things for a dollar and make a profit nowadays...thanks a lot inflation.
Golden cross on 2 hour chart
DOL Golden Cross soon also mostly following Eliott wave prediction align on Fib.
The end of wave 3 is around 50.89$ CAD, it would be a good place to take profit unless you want to wait for the earnings around september 5th.
Hey guys, Many of you probably didn't notice - Dollarama outperformed most of the high tech stocks for the last 8 year - yes, including Amazon and Apple! Don't forget it's not about who is fancier, it's about performance! Although, I am looking for a Dollarama short opportunity at these levels. Keep your eyes open! Keep it Real!
After consolidation, DOL is ready to move up again from the triangle formation. Watch for it to test the highs again.